New investor joins Lexington's CentrePointe project

A new investor has joined a major construction project in downtown Lexington. The Webb Companies announced on Wednesday that Greer Companies is backing CentrePointe.

LEXINGTON, Ky. (WDKY) - A new investor has joined a major construction project in downtown Lexington. The Webb Companies announced on Wednesday that Greer Companies is backing CentrePointe.

Construction is nearly complete on an underground parking garage for the 12-story office tower. Developer Dudley Webb told the Lexington Herald-Leader he has received the building permit for the office tower. He expects to get permits for a 12-story Marriott hotel and eight-floor Residence Inn extended stay hotel soon.

The Greer Companies is based in Lexington. The company has operated more than 60 restaurants. It also has franchise agreements with several hotel chains, including Marriott, Hilton and InternContinental.

"We are delighted to have the Greer Companies as partner in the CentrePointe project," said Dudley Webb in a statement. "I have known Phil Greer and his family for over 50 years and we are excited to get to work with him and his team. The Greer family also lives and works here in Lexington and they share our vision for this very important project for our community."

"CentrePointe is one of the most important developments in the history of Lexington and we wanted to be a part of it," said Phil Greer in a statement.

CentrePointe has been in the works for the last decade. Back in June, Webb told Fox 56 the project is expected to be complete in the fall of 2018.